Dublin, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The "Stone Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global stone flooring market experienced remarkable growth in 2022, with a market size reaching US$ 10.4 Billion. Looking ahead, the market is anticipated to achieve even greater heights, projected to reach US$ 16.1 Billion by 2028, reflecting an impressive Compound Annual Growth Rate (CAGR) of 7.55% during the forecast period from 2023 to 2028.
Stone flooring, crafted from natural solid rocks, involves cutting these rocks into slabs and further processing them to achieve the desired shape and polish. Commonly used stones for flooring applications include slate, marble, limestone, granite, and sandstone.
Stone flooring boasts various advantageous properties, including washability, high durability, temperature control, and enhanced aesthetic appeal, making it a preferred choice for both public and private complexes, as well as for commercial and residential property renovation and retrofitting.
Key Market Drivers:
The global stone flooring market is experiencing significant growth due to several key factors:
- Booming Construction Industry: The construction industry's robust growth worldwide is a major driving force behind the market's positive outlook.
- Demand for Aesthetically Appealing Interiors: Increasing demand for contemporary and aesthetically pleasing interiors in residential and commercial complexes is fueling market growth.
- Luxurious Finishing: Rising preference for luxurious finishes, particularly marbles, in commercial buildings, hotels, theaters, churches, and monuments, is contributing to market expansion.
- Environmental Consciousness: Growing environmental consciousness has led to the demand for stone floorings with minimal or no formaldehyde and volatile organic compound (VOC) emissions, stain and fire resistance, and anti-slippage properties.
- Innovative Stone Plastic Composite (SPC) Floorings: The development of cost-effective and durable SPC floorings is further boosting market growth.
- Increasing Consumer Spending: Rising consumer expenditure capacities and extensive infrastructural developments, particularly in developing economies, are expected to drive the market further.
Key Market Segmentation:
The report provides an in-depth analysis of key trends in each sub-segment of the global stone flooring market, with forecasts at the global, regional, and country levels from 2023 to 2028. The market is categorized based on raw material, flooring type, color, finished product, and application.
Breakup by Raw Material:
- Granite
- Marble
- Limestone
- Sandstone
- Slate
- Others
Breakup by Flooring Type:
- Natural
- Artificial
Breakup by Color:
- White and Black
- Beige and Grey
- Green
- Others
Breakup by Finished Product:
- Tiles
- Slabs
Breakup by Application:
- Residential
- Non-Residential
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report includes an in-depth analysis of the competitive landscape of the market, along with profiles of key players in the industry.
Key Questions Answered in This Report:
- How has the global stone flooring market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global stone flooring market?
- What are the key regional markets?
- What is the breakup of the market based on the raw material?
- What is the breakup of the market based on the flooring type?
- What is the breakup of the market based on the color?
- What is the breakup of the market based on the finished product?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global stone flooring market and who are the key players?
- What is the degree of competition in the industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $10.4 Billion |
| Forecasted Market Value (USD) by 2028 | $16.1 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/o03ndw
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